Kirkland Advises Magnolia Oil & Gas on Bolt-On Asset Acquisition in Giddings
Kirkland & Ellis advised Magnolia Oil & Gas Corporation (NYSE: MGY) in connection with its wholly owned subsidiary’s entrance into a definitive purchase agreement to acquire certain oil and gas producing properties including leasehold and mineral interests in Giddings for $300 million, subject to customary purchase price adjustments. The acquisition adds approximately 48,000 net acres in Giddings (96% operated, 91% working interest), enhancing Magnolia’s already significant depth of development opportunities. Combined with a smaller acquisition that closed in July 2023, Magnolia’s position in Giddings now totals over 500,000 net acres, driving further efficiencies of scale.
The Kirkland team was led by real asset M&A partners Chris Heasley, Anthony Speier and Danny Nappier and tax partners Mark Dundon and Ryan Phelps; with corporate associates Skyler Sikes, Mitch Holliman and Sarah Elizabeth Mason; environmental transactions partner Jonathan Kidwell and associate Courtney Tibbetts; and labor and employment partner Christie Alcala and associate Alexis Grinstead.
